Coinbase Obtains Unredacted FDIC Documents on Operation Chokepoint 2.0

In a modern improvement, Coinbase World Inc has obtained the unredacted information from the Federal Deposits Insurance coverage Fee (FDIC) in its ongoing investigation into its position within the Operation Chokepoint 2.0 agenda.

Paul Grewal, the Coinbase CLO, emphasised in a latest X publish that the FDIC wanted a court docket order to launch the paperwork. These unredacted paperwork at the moment are out there to the general public.

“We now have lastly obtained the unredacted OCP 2.0 letters from FDICgov. It took a court docket order, however now you can learn them for your self under. They’re displaying a coordinated effort to cease a variety of crypto actions – every little thing from easy BTC transactions to extra complicated choices,” he famous.

He famous that the paperwork show that the FDIC oversaw a coordinated effort to cripple crypto transactions. Grewal expressed skepticism concerning the FDIC’s actions, noting that whereas the FDIC beforehand claimed it had absolutely complied with a court docket order, it now, after additional investigation, “magically” discovered two extra pause letters.

Credibility unsure

He famous that it’s tough to consider of their “good religion” as a result of their actions seem inconsistent and their credibility is undermined with every new discovery. He underlined that the brand new Congress ought to manage hearings on all this directly, and recommended an intensive investigation into the matter.

Beforehand, in December, the FDIC launched a sequence of paperwork associated to Coinbase’s investigation into Operation Chokepoint 2.0, however they had been redacted and key particulars eliminated. Shortly thereafter, a choose dominated that the FDIC should launch the unredacted variations of those paperwork, marking a serious victory for Coinbase within the Freedom of Info Act (FOIA) case.